Florida 2-20 Practice Exam
All of the following are duties of the 'Office of Insurance Regulation' EXCEPT:
Make rating rules
When the insurer pays the proportion, which its limit bears to all limits this is called:
Pro rata
A condition that states that if an insurer adopts a revision which would broaden coverage without
additional premium, the insured would receive the benefit called:
Liberalization
A provision that provides that the insurance apply separately to each insured as if other insureds did not
exist is called:
Severability
A policy condition that is based on the insured's information on the application is called a:
Warranty
An untrue statement made by the insured in an application is called:
Misrepresentation
,The failure of the insured to reveal a relevant fact in applying for insurance is called:
Concealment
Part B- Medical Payments covers all of the following EXCEPT:
Using your motorcycle
Ashlee has a PAP with Part A limits of 100,000. Ashlee is involved in an accident and is found to be
negligent. The accident caused $120,000 and $25,000 in defense costs. What would Ashlee's PAP pay?
$125,000
To be eligible as "your covered auto" under the PAP, all of the following are covered EXCEPT:
Motorcycle
All of the following vehicles are eligible for the PAP EXCEPT:
Leased vehicle for less than 5 months
The Florida Financial Responsibility Law is triggered by all of the following EXCEPT:
Accident involves no bodily injury
Prejudgement interest awarded against the insured in a liability suit is also considered:
Damages
,Supplementary Payments under Part A- liability are in addition to the:
Limits
The deductible amount for glass breakage is:
$0
All of the following are 'Mechanical Breakdown' exclusions EXCEPT:
Glass Breakage
Which country is not in the 'Mechanical Breakdown' territory:
Mexico
Towing and Labor endorsement comes with the following limits EXCEPT:
$250
Which PAP endorsement covers two or more relatives or individuals residing together?
Joint Ownership Coverage
What is not considered public or livery conveyance?
Car pool
, All of the following are covered under Homeowners Section II Liability EXCEPT:
Boats powered by outboard motor 50 HP owned by insured
All of the following are Additional coverage's under Homeowners Section II-Liability EXCEPT:
Damage to Property of Others - up to $5,000
If an insured has an HO-3 policy, they will receive replacement cost coverage on a loss to the dwelling if:
At the time of loss, the limit is 80% or more of the replacement value of the dwelling
What is the limit of coverage D (loss of use) on an HO-3?
30% of Coverage A
The association's gazebo fire damage results in an $800 assessment fee. The HO-3 will pay how much of
the assessment?
$800
Lightning strikes a tree on the insured's location and falls on his residence. How will the HO-3 respond?
$500 for any one tree, shrub or plant
All of the following statements are true regarding the 'DP' difference EXCEPT:
DP-3 covers building for "all-risks"
All of the following are duties of the 'Office of Insurance Regulation' EXCEPT:
Make rating rules
When the insurer pays the proportion, which its limit bears to all limits this is called:
Pro rata
A condition that states that if an insurer adopts a revision which would broaden coverage without
additional premium, the insured would receive the benefit called:
Liberalization
A provision that provides that the insurance apply separately to each insured as if other insureds did not
exist is called:
Severability
A policy condition that is based on the insured's information on the application is called a:
Warranty
An untrue statement made by the insured in an application is called:
Misrepresentation
,The failure of the insured to reveal a relevant fact in applying for insurance is called:
Concealment
Part B- Medical Payments covers all of the following EXCEPT:
Using your motorcycle
Ashlee has a PAP with Part A limits of 100,000. Ashlee is involved in an accident and is found to be
negligent. The accident caused $120,000 and $25,000 in defense costs. What would Ashlee's PAP pay?
$125,000
To be eligible as "your covered auto" under the PAP, all of the following are covered EXCEPT:
Motorcycle
All of the following vehicles are eligible for the PAP EXCEPT:
Leased vehicle for less than 5 months
The Florida Financial Responsibility Law is triggered by all of the following EXCEPT:
Accident involves no bodily injury
Prejudgement interest awarded against the insured in a liability suit is also considered:
Damages
,Supplementary Payments under Part A- liability are in addition to the:
Limits
The deductible amount for glass breakage is:
$0
All of the following are 'Mechanical Breakdown' exclusions EXCEPT:
Glass Breakage
Which country is not in the 'Mechanical Breakdown' territory:
Mexico
Towing and Labor endorsement comes with the following limits EXCEPT:
$250
Which PAP endorsement covers two or more relatives or individuals residing together?
Joint Ownership Coverage
What is not considered public or livery conveyance?
Car pool
, All of the following are covered under Homeowners Section II Liability EXCEPT:
Boats powered by outboard motor 50 HP owned by insured
All of the following are Additional coverage's under Homeowners Section II-Liability EXCEPT:
Damage to Property of Others - up to $5,000
If an insured has an HO-3 policy, they will receive replacement cost coverage on a loss to the dwelling if:
At the time of loss, the limit is 80% or more of the replacement value of the dwelling
What is the limit of coverage D (loss of use) on an HO-3?
30% of Coverage A
The association's gazebo fire damage results in an $800 assessment fee. The HO-3 will pay how much of
the assessment?
$800
Lightning strikes a tree on the insured's location and falls on his residence. How will the HO-3 respond?
$500 for any one tree, shrub or plant
All of the following statements are true regarding the 'DP' difference EXCEPT:
DP-3 covers building for "all-risks"
